Chinese City of Chengdu Relaxes Home-Buying Rule to Revive Sales
- Local government no longer reviews home buyer’s qualification
- Chengdu joins dozens of other Chinese cities on easing curbs
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Chengdu, a major city in the southwest China, removed home-buying curbs, joining dozens of peers in the country in an attempt to revive real estate demand and boost economic growth.
The capital city of Sichuan province will no longer review home buyers’ qualification for real estate purchase starting from April 29, according to a statement from the housing authority on Sunday. Authority in the city that has over 20 million population will work to meet reasonable financing needs of all types of property companies, it said in an announcement posted on local regulator’s official Wechat account.